The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-04-24

treasury applicable to the payment of divi-
dendS Certain it is that as an enterprise
whose object is profit it is in better condi-
ton than ever before. The stock was issued
as low as $50 share in payment for mills
at first, and it is now above $50. Insiders
say it matters not to them whether the
certificates sell at $25 or SIS share.
They are keeping the stock for what
it will pay in dividends. The Trust,
which is not an Incorporated body,
builds no mills, all construction being
in charge of the American Cotton Oil Com
pany which has charters in the States
where the concern is operating.
The people in the enterprise deny with
great emphasis that they antagonize the in
terests of the planters. II is even declared
that there is a scheme on foot for admitting
that class of people to "A share i'll the profits
OF the cotton oil industry, the amount going
to each planter being proportional to the
quantity of seed he sells to the Trust. 1t is
asserted, too, that the Trust by its system
atlzation of the business has made a stable
market for the seed. Before the organiza-
ton was formed the planter never could tell
what he would get for his product.
Sometimes it was worth SIS ton, and
sometimes it could not be sold on any terms
Against all such claims as this it is charged
that the Trust Expresses the planters; that
1t stands in the way of improvements i'll
machinery and methods; that it prevents q
rapid increase in the consumption of the
oil, and that in general its policy is tyran-
meal, selfish and obstructive.
1t cannot be said that there is any great
confidence i'll the company recently formed
i'll Philadelphia to run an opposition to the
American Cotton Oil Trust. Even the COM
panieS opposed to the Trust are suspicious Of
1t. The alleged paid-up capital of the new
concern is S4,000O00, of which Henry G.
Butcher, of Philadelphia, takes 81 100000;
William S. Harvey, Of Philadelphia, $780,
600; John Oliver, of Columbia, S. c.,
$1,000, 900; Frederick Oliver, of Colum-
kins, of Charlotte, N. c., 100000; and
Alvin C. Newland, of Camden, N. j.,
$500 These men were all connected
with the firm of Washington Butchers Sons,
of Philadelphia, till that concern sold out to
the Trust few months ago, except the Oil
verS, who not long since sold their mills i'll
the Carolinas to the same concern. 1t ID as
serted that these people are too poor to carry
out any such enterprise. The connection of
Z. D. Armour, OF Chicago. with this affair is
believed to have been made for effect on the
stock market and the price of oil. The
owner Of one of the opposition mills in New
Orleans says: armour used to have a con-
tract with the Trust for oil
on favorable TERMS but before it ran
out the Trust had bought the business
of N. K. Fairbank. This placed Mr..
Armour in an embarrassing position, and he
took bis revenge by raiding the certificates
in Wall street. 1t is believed that his rela-
tions with the Trust have now been set to
rights. He was our last hope, and | suppose
we shall have to submit to the oppression of
the Trust with as good grace as possible"
Officers of the Trust say that the noise made
III organizing the new company does not
look ike business. They deny that these
people have machinery that is better than
that owned by the Trust. A company
was recently formed at Vicks-
burg for the purpose of preparing
cottOn-seed for expectation by re-
moving the lint from the shell by the Craw-
ford process, and there is talk of a company
In New Orleans with capital of 81, 100000
to make oil from the seed prepared by this
method. The best oil has, however, here
tofore been made by process that removes
the lint and shell together The success of
this undertaking is therefore problemati
cal.
On the whole, the grip of the American
Cotton Oil Trust on this important and grow
ing industry is very firm Such suits as
that recently brought in New Orleans do not
usually avail much, and individuals will not
make an attack on so powerful an organiza-
ton unless they see prospect of profit. 1t
is believed that the ruling spirits of the Cot
ton Oil Trust are largely the same as those
of the Standard Oil Company, which has
demonstrated its ability in the way of
creating a monopoly. The tremendous
public sentiment against such combinations
will, however, have some effect. 1t will at
least show these enterprising gentlemen
that there is point beyond which it is not
safe to go in their effort to control the en-
tire cotton oil interest of this country